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Proventus Agrocom IPO

Proventus Agrocom IPO

  • Status: Closed
  • RHP:
  • ₹ 123,360 / 160 shares

    Minimum Investment

IPO Details

  • Open Date

    24 May 2023

  • Close Date

    26 May 2023

  • IPO Price Range

    ₹ 771

  • IPO Size

    ₹ 69.54 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    05 Jun 2023

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IPO Timeline

Proventus Agrocom IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Proventus Agrocom Ltd is an integrated health food brand its IPO opens on 24th May and closes on 26th May. 

The issue consists of a fresh issue of 6,71,853 shares of Rs.51.80 crores. The price band for the issue is fixed at Rs. 771 per share.  The lot size is set for 160 shares per lot. The shares will be allotted on the 31st of May and the issue will be listed on the 5th of June on the stock exchanges. 

The book running lead managers to the offer is Sundae Capital Advisors.

Objective of Proventus Agrocom IPO

The Company proposes to utilize the funds which are being raised through the Fresh Issue towards funding the following objects:
1.    Funding working capital requirements of the Company;
2.    Funding working capital requirements of the material subsidiary namely, Prov Foods Private Limited;
3.    General Corporate Purposes.

Proventus Agrochem Limited is an integrated health food brand. The company has its presence in the entire range of dry fruits, nuts, seeds, and berries. The product of company also includes various healthy snacking products across the value chain.

The motto of Proventus is to create expertise in healthy food products. They strive at building the revenue stream by moving across the value chain from origination to distribution and creating an integrated business model - from "farm to homes".

The company is attempting to fill the vacuum in the healthy snacking range in the Indian market, especially in the dry fruits, nuts, seeds, and berries category.

 

Peer Comparison

●    Krishival Foods Limited
 

For More Information:

Proventus Agrochem IPO GMP
Webstory on Proventus Agrochem IPO

 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 40,326.68 30,087.50 89,620.14
EBITDA 349.91 310.51 (2,167.47)
PAT 114.12 187.90 (2,190.46)
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 10,131.13 8,843.36 8,936.94
Share Capital 248.58 248.58 248.58
Total Borrowings 3,444.05 2,940.72 1,728.54
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 20.84 1,272.04 1,378.36
Net cash from / (used in) investing activities (111.03) (99.50) (562.33)
Net cash flow from / (used in) financing activities 216.59 (87.49) (847.03)
Net increase (decrease) in cash and cash equivalents 134.80 1,077.65 (9.99)


Strengths

•    Extensive distribution network, arrangement with reputed chain stores and growing e-commerce channel
•    Established and stable sourcing base
•    Capital-efficient and scalable retail model to capitalize on the industry growth profile driven by a rapid shift towards healthy lifestyle and hygienic food snacking trends, organized retail and increasing online penetration
•    Using dry fruits broken and shells and skins of the raw material to derive maximum value realisation
•    Experienced Promoters and Management team
 

Risks

•    Any actual or alleged contamination or deterioration of its products could result in legal liability or damage to its reputation.
•    Inadequate or interrupted supply and price fluctuation of its raw materials and packaging materials could adversely affect its business
•    Any significant interruption in continuing operations of the production or cold storage facilities could have a material adverse effect on the business, results of operations, cash flows, and financial condition. 
 

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FAQs

The minimum lot size for the Proventus Agrocom IPO is 160 shares.

The price band of the Proventus Agrocom IPO is Rs. 771.

The Proventus Agrocom IPO opens on May 24, 2023 and closes on May 26, 2023

The Proventus Agrocom IPO comprises of a total issue of equity shares aggregating to ₹69.54 crores

The allotment date of Proventus Agrocom IPO is 31st May 2023.

The listing date of Proventus Agrocom IPO is 5th June 2023.

Sundae Capital Advisors is the book runner of Proventus Agrocom IPO.

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
1.    Funding working capital requirements of the Company;
2.    Funding working capital requirements of the material subsidiary namely, Prov Foods Private Limited;
3.    General Corporate Purposes.
 

To apply for the Proventus Agrocom IPO, follow the steps given below
●    Login to your 5paisa account and select the issue in the current IPO section
●    Enter the number of lots and price at which you wish to apply for
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
●    You will receive a mandate notification to block funds in your UPI app